August 6th, 2003, 07:45 AM
php mortgage calculator
Hello every one
I have a problem whit my project i must create a mortgage calculator with different and many functions i have did almost everythig except the part with "What Can I Borrow" an example you my see at this address http://www.rnrmortgageservices.com/.../qual_input.asp if anybody can help me please i reall need this even the formula on how the calcules are made it is great everything
Thank you all
August 6th, 2003, 01:08 PM
Plenty of mortgage calculators exist already like these, why do you need to make another one? This sounds kind of like a h/w assignment...
Can't help with the programming, but the idea behind the "what you can afford" is that the house payment shouldn't exceed something like 28% of your gross income, and your total obligation (house, car, other monthly obligations) shouldn't exceed about 36% of your gross income. These numbers are maximums, pretty much. http://www.smartmoney.com/home/buyin...?story=howmuch has a calculator with all the factors broken down and explained so you can see how its done.
My hobby: collecting US coins
August 7th, 2003, 01:54 AM
I will try to make a start from the links that you give me but i was looking for something more like this http://www.math.hawaii.edu/~hile/math100/consf.htm here you will finde the formula that i used to make the "monthly payment" calculator.
If anybody knows any help is wanted.
August 7th, 2003, 07:09 AM
Like I said before, I can't help you with the programming, but the stuff I gave you is plenty to make your algorithm. The only part you really need is the 28% of gross income part.
Prompt the user for their income. Once they put it in, find 28%, and divide it by 12 to get the maximum montly payment amount. Then simply solve for P (total principle) in the equation on the page you linked to. (The current equation solves for p(monthly payment) given P(total principle), you want to solve for P given p). Once you've done that math, just code it in the same way as you did for the other parts.
My hobby: collecting US coins
August 7th, 2003, 07:36 AM
Thanks again you are kind enough to explain one more time, but you must understant i'm not looking for your programing help i'm looking just for the math i can do the program by my self very well but when it comes to research others legislation country i'm not very good so when it comes to loans for USA i walk in the deep dark.
I was expecting from this post something like the forumla in the link that i have supplied but i'm very pleased and with the answer that i have recived.
So thanks again and all best
August 7th, 2003, 08:15 AM
I just want to thank you again i just made it i have worked a coupe of hours but i finaly made the math and now i am gooing to make the algorithm and the coding i will finish in a few minutes if you want to see what you help me for i will send you the link of the site
Thanks again and all best if you need any help in programing somethimes don't hesitete to ask i will try to help you
August 7th, 2003, 09:11 AM
Sure, post a link
August 7th, 2003, 10:42 AM